FEEM working papers "Note di lavoro" series
2012 .011

Robust Control of a Spatially Distributed Commercial Fishery


Authors: William A. Brock, Anastasios Xepapadeas, Athanasios N. Yannacopoulos
Series: Climate Change and Sustainable Development
Editor: Carlo Carraro
Keywords: Spatiotemporal Dynamics, Model Uncertainty, Robust Control, Fishery
JEL n.: D81, R12, Q22, C6

Abstract

We consider a robust control model for a spatially distributed commercial fishery under uncertainty, and in particular a tracking problem, i.e. the problem of robust stabilization of a chosen deterministic benchmark state in the presence of model uncertainty. The problem is expressed in the form of a stochastic linear quadratic robust optimal control problem, which is solved analytically. We focus on the emergence of breakdown from the robust stabilization policy, called hot spots, and comment upon their significance concerning the spatiotemporal behaviour of the system.

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